Unsuccessful equity crowdfunding offerings and the persistence in equity fundraising of family business start-ups
- Author
- Alice Rossi, Tom Vanacker (UGent) and Silvio Vismara
- Organization
- Abstract
- Little is known about what happens after an unsuccessful equity crowdfunding campaign. Taking a socioemotional wealth perspective, we hypothesize that family business start-ups are more likely to eventually still raise equity financing relative to nonfamily business start-ups. Moreover, while family business start-ups are initially less likely to provide voting rights, we hypothesize that they are more likely to offer shares with voting rights after an unsuccessful campaign. Using data on the UK equity crowdfunding market, we find support for our hypotheses. This study adds novel insights into the nexus between equity crowdfunding and family business literature.
- Keywords
- Economics and Econometrics, Business and International Management, equity crowdfunding, entrepreneurial finance, corporate governance, voting rights, family business start-ups, SAMPLE SELECTION BIAS, SOCIOEMOTIONAL WEALTH, ENTREPRENEURS, OWNERSHIP, FIRMS, BEHAVIOR, DIVERSIFICATION, MECHANISMS, INVESTMENT, STRATEGIES
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-8770540
- MLA
- Rossi, Alice, et al. “Unsuccessful Equity Crowdfunding Offerings and the Persistence in Equity Fundraising of Family Business Start-Ups.” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 47, no. 4, 2023, pp. 1327–55, doi:10.1177/10422587221121290.
- APA
- Rossi, A., Vanacker, T., & Vismara, S. (2023). Unsuccessful equity crowdfunding offerings and the persistence in equity fundraising of family business start-ups. ENTREPRENEURSHIP THEORY AND PRACTICE, 47(4), 1327–1355. https://doi.org/10.1177/10422587221121290
- Chicago author-date
- Rossi, Alice, Tom Vanacker, and Silvio Vismara. 2023. “Unsuccessful Equity Crowdfunding Offerings and the Persistence in Equity Fundraising of Family Business Start-Ups.” ENTREPRENEURSHIP THEORY AND PRACTICE 47 (4): 1327–55. https://doi.org/10.1177/10422587221121290.
- Chicago author-date (all authors)
- Rossi, Alice, Tom Vanacker, and Silvio Vismara. 2023. “Unsuccessful Equity Crowdfunding Offerings and the Persistence in Equity Fundraising of Family Business Start-Ups.” ENTREPRENEURSHIP THEORY AND PRACTICE 47 (4): 1327–1355. doi:10.1177/10422587221121290.
- Vancouver
- 1.Rossi A, Vanacker T, Vismara S. Unsuccessful equity crowdfunding offerings and the persistence in equity fundraising of family business start-ups. ENTREPRENEURSHIP THEORY AND PRACTICE. 2023;47(4):1327–55.
- IEEE
- [1]A. Rossi, T. Vanacker, and S. Vismara, “Unsuccessful equity crowdfunding offerings and the persistence in equity fundraising of family business start-ups,” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 47, no. 4, pp. 1327–1355, 2023.
@article{8770540,
abstract = {{Little is known about what happens after an unsuccessful equity crowdfunding campaign. Taking a socioemotional wealth perspective, we hypothesize that family business start-ups are more likely to eventually still raise equity financing relative to nonfamily business start-ups. Moreover, while family business start-ups are initially less likely to provide voting rights, we hypothesize that they are more likely to offer shares with voting rights after an unsuccessful campaign. Using data on the UK equity crowdfunding market, we find support for our hypotheses. This study adds novel insights into the nexus between equity crowdfunding and family business literature.}},
author = {{Rossi, Alice and Vanacker, Tom and Vismara, Silvio}},
issn = {{1042-2587}},
journal = {{ENTREPRENEURSHIP THEORY AND PRACTICE}},
keywords = {{Economics and Econometrics,Business and International Management,equity crowdfunding,entrepreneurial finance,corporate governance,voting rights,family business start-ups,SAMPLE SELECTION BIAS,SOCIOEMOTIONAL WEALTH,ENTREPRENEURS,OWNERSHIP,FIRMS,BEHAVIOR,DIVERSIFICATION,MECHANISMS,INVESTMENT,STRATEGIES}},
language = {{eng}},
number = {{4}},
pages = {{1327--1355}},
title = {{Unsuccessful equity crowdfunding offerings and the persistence in equity fundraising of family business start-ups}},
url = {{http://doi.org/10.1177/10422587221121290}},
volume = {{47}},
year = {{2023}},
}
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